The Association of Ghana Industries (AGI) has declared its preparedness for the rollout of the 24-hour economy policy, with its Chief Executive Officer, Seth Twum Akwaboah, affirming that the industrial sector is now aligned with the policy’s objectives and implementation strategy.
In the aftermath of President John Dramani Mahama’s flagship economic initiative launch, stakeholders in manufacturing and industrial production appear poised to embrace the shift, adding more steam to the move.
“Sure, we are ready for the rollout because we have been eagerly waiting for something like this.
“It’s also becoming quite clear that there are specific interventions in the implementation of the 24-hour economy that are going to help the manufacturing sector and the industrial sector as a whole”
Seth Twum Akwaboah, CEO of AGI
Initially greeted with uncertainty, the 24-hour economy policy is now being received with cautious optimism following further clarification and stakeholder engagement before, during and after its recent launch.
According to the AGI CEO, confusion once clouded the policy’s intent, particularly how it would function in an economy grappling with issues like high energy costs, market unpredictability, and access to capital.
However, the association’s extensive interactions with government officials and policy documents have shed light on specific interventions tailored to manufacturing and industry.
He explained that manufacturers first viewed the policy as simply a productivity-driven effort to keep operations running through the day and night. That interpretation raised questions about feasibility, given the country’s structural constraints.
“We are ready for it because people are eager to run their work on it and take advantage of whatever advantages that will be there,” the AGI CEO stated unequivocally, highlighting that the readiness is grounded in interest and ambition across the private sector.
Power Sector Crucial
Central to the success of the 24-hour economy is the availability, reliability, and affordability of power – an issue Akwaboah acknowledged remains a persistent obstacle for industrial expansion in Ghana.
While some capacity already exists, he argued that inconsistencies in electricity supply, combined with high tariffs, create a precarious environment for 24-hour operations.
“It is not just about the supply, regularity and consistency of it – it’s also about the cost. The combination of the two is very important for industries to operate efficiently”
Seth Twum Akwaboah, CEO of AGI
He noted that while the former administration cited excess power generation capacity as recently as last year, industries still endured interruptions that disrupted production cycles. This, he believes, points to systemic inefficiencies rather than sheer lack of capacity.
He added that energy challenges must be tackled not only technically, but commercially, and urged state coordinated operations across all parts of the energy value chain to deliver consistent results hence.
“Production of power to supply industry and other businesses, even the household is a business and for every business venture, once there is a market, the business would thrive. Even though we are having challenges, it is still very possible to make it work once we have the right mechanism of operating it”
Seth Twum Akwaboah, CEO of AGI
Opportunity in Policy Design
The 24-hour economy policy is not merely an appeal to productivity but is being positioned as a comprehensive economic transformation tool.
According to Akwaboah, the government’s new approach includes incentive frameworks and operational models that encourage industries to adopt night shifts and around-the-clock production schedules without bearing disproportionate risk or cost.
While the AGI continues to analyze the details of the implementation strategy, its optimism is buoyed by the inclusion of sector-specific mechanisms. These mechanisms, the AGI believes, will offset the usual hurdles in energy, capital, and logistics that have long hampered Ghana’s industrial competitiveness.
The government has framed the 24-hour economy not only as a solution to unemployment but as a pathway to deepen industrialization, boost exports, and anchor Ghana’s transformation agenda. As the rollout kicks off, the AGI’s endorsement signals that at least one pillar of the productive sector is ready to participate fully.
The Association of Ghana Industries, as the principal voice of manufacturing in Ghana, carries significant influence in national economic policy execution.
With its leadership now publicly aligning with the policy, attention will turn to other actors in the value chain, including utilities, financial institutions, and labour unions, to ensure that the ecosystem is functional, sustainable, and equitable for all participants.
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